EURUSD is back into the key weekly lows and with the USDX at resistance,
we could see some short-term weakness in the USD pushing EURUSD prices higher.
If the market forms any bullish price action here we could see the market head towards
the 1.1300 level. Our idea will be invalidated if price breaks and closes below the lows
Stochastic flashes overbought while RSI is approaching this level. However, the Chaikin oscillator suggests there's some room to run higher. However, long-term 2018 downward trending resistance is a bit strong to overcome. Overall, sentiment is short, but need some more convincing as there is probably still more room to run upwards especially given the fact that...
AUDUSD and iron ore have been quite tightly correlated over the years as it is one of Australia's number one exports. Now there is divergence which should be looked upon with high skepticism. Either the Aussie dollar will rise on the prospect of higher demand or the price of iron ore will retreat on the continue lack of demand if the supply side cannot remain limited.
In this video, we take a look at the AUDUSD as price approaches the key resistance of 0.7170.
The 4hr chart has formed higher highs, with previous structure offering support for further upside
into the key resistance.
USDCAD is fastly approaching the key 1.3300 support level again as the price of oil continues to push higher.
With the USD at resistance, we could see price break below the key support. If we see this happen and the market
does close below, look for short opportunities on a lower timeframe at the resistance. With Oil close to resistance we could
also see this...
Chart time frame - H4
Timeframe 1-2 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @1.586 - .... and fall to the 1.576. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 1.576
NZDUSD remains weak across the board as we outlined in our market outlook this week. We expect this
to continue against the stronger currencies however we may see some buyers step back into the
market at the key demand zone here. This will be likely ad the DXY sits at the key resistance, any USD weakness
will help the NZDUSD price push higher.
In this video update, we take a look at the AUDUSD as price may look to move higher in line with
our quarterly outlook. The daily chart continues to consolidate and to confirm higher prices we will need
to see the AUDUSD break and close above the previous highs at 0.7160. This will show us that AUDUSD
is changing cycle and to look for further upside.
USDJPY could see another leg higher as the JPY continues to weaken. Price on the daily chart suggests further upside
with price forming a bullish flag pattern on the 1hr chart currently. A break higher could lead to price heading towards
the 111.80 resistance.
In this video update, we take a look at WTI as price has retraced back to the key $60.00 level.
With price holding a 50% fib confluence at this level we could expect the market to move
lower from here. The 4hr chart is highlighting a double top pattern and if price can break below
$58.00 we should see some further short selling enter the market.
In this video update, we take a look at our current position on USDCAD as price bounced from the
previous highs. The weekly timeframe suggested we are going to see further upside with a bounce from 1.3300.
Looking for price to continue higher towards our targets.
as you can see on the weekly time frame (also monthly) we are witnessing positive price action for the ASX. Although positive price action is generally celebrated, it needs to be backed up with positive movements in relative strength, which in this case is not happening.
As you will see on the chart published, despite the positive price action we...
The NZDUSD could see some short-term downside as price sits at the trendline resistance highs.
Price has tried to break higher on a few occasions with no luck so far and with the USD looking likely to
continue to the $97.50 resistance we could see NZDUSD head back towards to the trendline support.
This market is in a consolidation pattern meaning that we must wait...
In this video update, we take a look at the USD as the greenback could be set to rise up towards the $97.50 highs.
The reason being the 3 months and 1-year yields have inverted. When this has happened in the past a market crash has followed.
In situations like this, we typically see the market run to safe haven currencies such as the JPY and USD.
USDJPY could see further downside if the market can close below 110.00. Earlier in the week,
we discussed a potential breakout of the triangle consolidation pattern and the likelihood of the market
testing 110.00 demand zone on a dovish fed tone. Now that price has re-tested this zone the market is currently
breaking below it. If we see a weekly close below the...
In today's video update, we take a look at the USD again as we suggested yesterday we should see the USD bounce from the lows and demand zone.
The USD index shows that the greenback remains rangebound and highlights the importance of waiting for the price to hit those key supply and demand
zones before making trading decisions.